Forex analysis review
Forex analysis review |
- August 13, 2021 : EUR/USD daily technical review and trading options.
- August 13, 2021 : EUR/USD Intraday technical analysis and trading plan.
- August 13, 2021 : GBP/USD Intraday technical analysis and key-levels.
- Bitcoin ended its drop, focus on resistance breakout
- NZD/USD upside breakout in view
- EUR/USD speeds up its amazing rally
- USD/CAD prints Head&Sholders pattern, larger drop expected
- Trading Signal for Ethereum for August 13 - 16, 2021: Sell Below $3,250
- Wave analysis of EUR/USD for August 13. Pace of US economic recovery under threat of disruption
- Gold price bounces strongly above $1,760.
- Trading Signal for Dow Jones 30 - #INDU, for August 13 - 16, 2021: Sell Below 35,550
- Ethereum remains inside bullish channel.
- Strong bounce in EURUSD tests bearish trend.
- Trading Signal for USD/CAD for August 13 - 16, 2021: Sell Below 1.2500
- Market update for August 13, 2021
- EUR/USD: The dollar will surprise the Fed
- GBP/USD Price Analysis, August 13
- EUR/USD Hot Forecast, August 13
- BTC analysis for August 13,.2021 - Key resistance on the test at $47.000
- Analysis of Gold for August 13,.2021 - Downside rotation in the play today
- EUR/USD analysis for August 13 2021 - Major resistance at 1.1770 is on the test
- BTC rebounds. What's next?
- Trading idea for AUD/CAD
- Fund managers' position in the face of inflation
- BITCOIN - Technical Analysis
| August 13, 2021 : EUR/USD daily technical review and trading options. Posted: 13 Aug 2021 10:47 AM PDT
Earlier in June, one more upside movement was demonstrated towards 1.2175 which failed to offer sufficient bearish pressure for a while. Breakout above 1.2175 enhanced further bullish advancement towards 1.2250 as an initial target. Further upside movement was expected to pursue towards the backside of the broken trend line. However, the pair has failed to do so. On the other hand, re-closure below 1.2175 was needed to turn the short-term outlook into bearish again. Recently, Persistence below the depicted price zone of 1.1990 indicated further downside movement towards 1.1840 and 1.1780 where some bullish recovery has originated. During last week, the EURUSD pair has been trapped within a narrow consolidation range between the price levels of 1.1780 and 1.1840. A bullish breakout was executed above 1.1840 shortly after. Temporary Upside pullback was expected towards 1.1990 with special attention if the price level of 1.1990 is bypassed as this indicates further upside movement towards 1.2100. However, re-closure below the price level of 1.1840 has initiated another downside movement towards 1.1780 which failed to hold prices for a little time before the end of this week. That's why, bulls were waiting for another candlestick closure above 1.1780 for another ascending swing to be initiated. Initial targets are to be located around 1.1840 and 1.1910. The material has been provided by InstaForex Company - www.instaforex.com |
| August 13, 2021 : EUR/USD Intraday technical analysis and trading plan. Posted: 13 Aug 2021 10:43 AM PDT
Bearish persistence below the price zone of 1.2050-1.2000 was needed to establish a short-term downtrend. Shortly after, Bearish re-closure below 1.2100 then 1.2050 allowed more bearish domination. Initial bearish targets were located around 1.1940 then 1.1800 which offered some bullish rejection for sometime before another bearish movement could take place towards 1.1780. Recently, the EURUSD pair has been moving downwards within the depicted bearish channel while the price level of 1.1780 stood as a prominent demand level that prevented further bearish decline. Recently, the bullish pressure that originated around 1.1780 failed to push higher than the price level of 1.1900. That's why, another bearish pullback towards 1.1700 was being executed. Bullish rejection signs were expected around the current price levels of 1.1700-1.1730 as it corresponded to the backside of the broken channel. Currently, a bullish breakout above 1.1830 is needed to enhance the bullish side of the market and enable further bullish advancement towards 1.1900 and 1.1970. Any upcoming bullish pullback towards 1.1985 should be considered for bearish rejection and a valid SELL Entry. The material has been provided by InstaForex Company - www.instaforex.com |
| August 13, 2021 : GBP/USD Intraday technical analysis and key-levels. Posted: 13 Aug 2021 10:40 AM PDT
Since March, the GBPUSD pair has been moving sideways within a wide consolidation range extending between 1.3670 up to 1.4250 which acted as a prominent SUPPLY that prevented further bullish advancement. On the other hand , the GBPUSD pair has been contained above the demand level of (1.3660) a few times while Bearish breakout below 1.3600 was needed to enhance further bearish decline. Recently, Failure to maintain bearish pressure below 1.3670 (100% Fibonacci Level) has enhanced another bullish movement for retesting of the price level of 1.3880. Further bullish advancement was to be expected towards 1.4025. On the other hand, the nearest SUPPLY level is located around 1.4025 where bearish rejection and a valid SELL Entry should be anticipated. That's why, the pair remains trapped between the mentioned key-levels (1.3800 and 1.4025) until breakout occurs in either directions. Bearish breakout below 1.3800 will probably enable more bearish decline initialy towards 1.3670. While on the other hand, bullish breakout above 1.4025 will probably enable further bullish advancement towards 1.4100-1.4150. The material has been provided by InstaForex Company - www.instaforex.com |
| Bitcoin ended its drop, focus on resistance breakout Posted: 13 Aug 2021 10:30 AM PDT Bitcoin rallied and erased the short-term losses. The bias is bullish, so the price of Bitcoin could resume its growth. A temporary decline was expected after its impressive growth. In my previous forecasts, I mentioned that BTC/USD could slip lower before resuming its growth. It has increased by 6.70% from 43,800.02 yesterday's low. Resuming its growth, Bitcoin will drag higher the major altcoins. Technically, it's at a resistance zone, so we'll have to wait to see how it will react in the coming hours. The buyers have proven themselves to be in charge once again. Sideways moves in the short term could bring new long opportunities. BTC/USD Bulls Still In Charge
Bitcoin dropped to challenge the buyers from around the fourth warning line (wl4). I've mentioned in the previous analysis that BTC/USD could slip lower after jumping above this dynamic resistance. Its failure to approach and reach the 43,000 psychological level or the uptrend line signaled strong buyers. The high of 46,759 is seen as resistance. Closure above it could signal a breakout through the weekly R1 (47,032) as well. Jumping and stabilizing above the R1 may signal further growth towards the channel's upside line. The next major upside target stands at the fifth warning line (wl5). Bitcoin ForecastConsolidation here below the weekly R1 (47,032) followed by a valid breakout above this static obstacle could signal further growth towards the 50,000 psychological level. The outlook is bullish as long as it stays within the up channel's body. Being in a resistance zone, we cannot exclude a minor decline in the short term. A temporary retreat could help the buyers to enter long again. The material has been provided by InstaForex Company - www.instaforex.com |
| NZD/USD upside breakout in view Posted: 13 Aug 2021 10:28 AM PDT
NZD/USD stands right below a minor downtrend line. It could still rise as long as it stays above the uptrend line. As you already know from my previous forecasts, NZD/USD was expected to increase after jumping above the major downtrend line. The minor downtrend line is seen as an upside obstacle. Jumping and stabilizing above it could signal upside continuation. Still, the high of 0.7055 is seen as an upside obstacle as well. Trading ConclusionWe could have a new buying opportunity if the price jumps above the immediate obstacles and through the 0.7060 level. The psychological level 0.7100 is seen as an upside target. The material has been provided by InstaForex Company - www.instaforex.com |
| EUR/USD speeds up its amazing rally Posted: 13 Aug 2021 09:46 AM PDT EUR/USD edges higher after the DXY has printed a strong sell-off. In my previous articles, I've mentioned that the pair could turn to the upside after reaching a strong support zone. It's traded at 1.1796, far above today's low of 1.1728. The Dollar Index has reached a former high at 93.19 level, so a drop was imminent. Also, the index failed to stabilize above the 93.00 psychological level. The dollar plunged in the last hours also because the US Prelim UoM Consumer Sentiment was reported lower at 70.2 compared to 81.2 expected. Moreover, the Prelim UoM Inflation Expectations increased by 4.6% below 4.7% in the previous reporting period. On the other hand, the Eurozone Trade Balance and the German WPI have come in better than expected, while the French Final CPI was reported in line with expectations. EUR/USD Looks To Trade North
EUR/USD has resumed its growth after retesting the upside 50% Fibonacci line. Jumping above the highs of 1.1753 and 1.1769 signaled strong buyers in the short term. The price is likely to reach the weekly pivot point (1.1804) level which is seen as static resistance. A temporary decline after the current rally could help us to catch a new upwards movement. Now it is risky to buy as EUR/USD could decrease a little as the dollar Index has reached a support level. The near-term major resistance is seen at the descending pitchfork's upper median line (UML). OutlookPersonally, I would like to see a minor decline towards 1.1769. Temporary consolidation and sideways movement could bring great long opportunities with the target at the upper median line (UML) or higher at 1.19 psychological level. The material has been provided by InstaForex Company - www.instaforex.com |
| USD/CAD prints Head&Sholders pattern, larger drop expected Posted: 13 Aug 2021 09:45 AM PDT USD/CAD is trading in the red at the 1.2514 level and it could drop after retesting the weekly pivot point (1.2528). The pair is still expected to drop after escaping from a major upward channel. Now it has moved sideways, so we'll have to wait for confirmation before taking action again. Unfortunately, USD buyers are still disappointed after the US inflation data. The USD depreciated despite a positive report on the US PPI and Core PPI that increased by 1.0% beating expectations. The Unemployment Claims came in line with expectations, but the greenback was too overbought to be able to appreciate. The pressure is high on the USD after the Prelim UoM Consumer Sentiment was reported at 70.2 points, below 81.2 estimates. USD/CAD Retests Resistance
USD/CAD has increased a little to retest the weekly pivot point (1.2528). It could drop deeper as long as it stays under this level. It has failed to reach the weekly S1 (1.2476) in the last attempt, that's why it has come back to reach the pivot point. Dropping and reaching the S1 may also signal an imminent downside breakout through it. Falling and closing below Wednesday's low of 1.2489 may signal more declines ahead. Techncially, USD/CAD has printed something like a Head & Shoulders pattern. A valid break through the S1 could validate this pattern. Also, such a break below the S1 could activate a strong sell-off towards the S2 (1.2400). Only a jump above the weekly pivot point of 1.2528 could really invalidate the downside scenario. ForecastA drop and closure below 1.2489 could activate a deeper drop in the upcoming period. 1.2422 low could be used as a downside target. The downside scenario could be invalidated by a new higher high. The material has been provided by InstaForex Company - www.instaforex.com |
| Trading Signal for Ethereum for August 13 - 16, 2021: Sell Below $3,250 Posted: 13 Aug 2021 08:17 AM PDT
The daily chart of Ethereum (ETH/USD) shows a strong bullish tone. The accumulation of the last daily candles around $3,200 level is a clear sign of exhaustion of the bullish force with a probability of a prolonged correction in the short term. The last 7 candles that are accumulating in the area of $3,000 could tell traders that time is ripe to take part of the gains of 81% profitability accumulated in the last three weeks to avoid losing everything. From its all-time high at $4,364 to its low of July 17 at 1,704, we have added the Fibonacci indicator. The level of 61.8% of Fibonacci results in $3,437 this will be a key point for Ethereum. We can expect a pullback towards the 61.8% level, after this attempt to break this level. If it fails to consolidate above this zone, it will be a sign that ETH has only made a technical correction and could resume its main downtrend. The cryptocurrency market remains optimistic, since BTC, the main engine of all other cryptocurrencies, is approaching the target of $50,000. If BTC reaches this level, ETH could follow it due to the positive correlation and reach the level of 3,437 (61.8% Fibonacci). The technical reading of the Eagle indicator shows that it is approaching an overbought zone. In the short term, there could be a downward correction. Therefore, the key level to sell is below 3,125, where there is the 6/8 Murray support. If a pullback towards 3,437 occurs, it will be an opportunity to sell there. The target for both scenarios is the level of $2,500. Support and Resistance Levels for August 13 - 16, 2021 Resistance (3) 3,475 Resistance (2) 3,357 Resistance (1) 3,296 ---------------------------- Support (1) 3,090 Support (2) 2,942 Support (3) 2,824 The material has been provided by InstaForex Company - www.instaforex.com |
| Wave analysis of EUR/USD for August 13. Pace of US economic recovery under threat of disruption Posted: 13 Aug 2021 07:40 AM PDT
The wave counting of the 4-hour chart for the Euro/Dollar instrument remains unchanged. This week, the amplitude of the instrument's movements for each day does not exceed 20-30 basis points. The quotes of the instrument fell below the low of the previous wave, so now we can definitely conclude that the descending section of the trend has transformed into a five-wave structure of the a-b-c-d-e type. If this is true, then the last wave e is either nearing its completion or has already been completed, since the attempt to break through the 1.1704 mark, which corresponds to 100.0% Fibonacci level was unsuccessful. Thus, I expect the beginning of a new upward trend segment in the coming days with the prospect of growth by 500-600 points. The continued exit of quotes from the reached lows indirectly indicates the readiness of the markets for new purchases of the instrument. I consider the option with the resumption of the decline in the quotes of the instrument now as a backup. The news background for the Euro/Dollar instrument remained extremely weak on Friday. There was not a single report or other events that could interest the markets. However, the instrument still came to life at the end of the week and began to increase, which currently stands at 35 basis points. Although the entire current week remains extremely boring. As I have already said, the news background also remains very weak, but there is still a topic in the US that may reduce the demand for the US dollar in the foreign exchange market in the near future. We are talking about a new wave of the coronavirus pandemic, which began a few weeks ago. At first, it was only a small increase in the number of cases, but in recent days, more than 100,000 new cases have been steadily registered per day. Moreover, American scientists have announced a new strain of the virus called "iota", which is even more contagious than "delta", which at one time was also considered the most contagious of all known strains. However, the new strain, which is already actively infecting Americans, has an even higher transmission rate, about 25% higher than that of delta. In addition, it is also more likely to cause complications in the patient than all other strains, which can be fatal. For people under 45 years of age, the difference is practically not noticeable, but for elderly people, the new strain is more dangerous by about 60-80%. Thus, despite the fairly high rates of vaccination, the virus continues to spread in the United States, as well as in many other countries of the world, which can lead to a slowdown in the economy and an extension of the duration of incentive programs. Based on the analysis, I conclude that the construction of the descending section could have ended around the level of 1.1704, which is equal to 100.0% according to Fibonacci. A successful attempt to break through this level will indicate the readiness of the markets for further sales of the instrument. In this case, the wave e may take a more complex and extended form, and it will be possible to sell the instrument with targets located near the 1.1551 mark, which corresponds to 127.2% according to Fibonacci. Until this happens, I recommend buying the pair.
The wave counting of the higher scale looks quite convincing. We see three three-wave sections of the trend, which are approximately the same in size. However, the last section of the trend quite unexpectedly began to take a more complex form, but it can still end in the near future. The material has been provided by InstaForex Company - www.instaforex.com |
| Gold price bounces strongly above $1,760. Posted: 13 Aug 2021 07:38 AM PDT Gold price is at $1,769. After the triple bottom around $1,680 and the major Fibonacci support level, bulls stepped in and pushed price higher respecting the key support and June lows. The higher price is moving the more the chances that we are not going to see a move below $1,700 again.
Black line - support trend line Gold price briefly moved below the black trend line but is now back again above it. The horizontal red support line was so far respected. Could this sharp decline be a trap for bears? If price manages to push above $1,800, then most probably it was.
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| Trading Signal for Dow Jones 30 - #INDU, for August 13 - 16, 2021: Sell Below 35,550 Posted: 13 Aug 2021 07:31 AM PDT
The Dow Jones Industrial Index 30, (#INDU), has been trading with a strong bullish trend until the time of writing this article. The Dow registered a new high at 35,457 which will be its eighth weekly bullish candle. According to technical indicators, it is very overbought. Observing the 4-hour chart, we can see that the Dow Jones faces strong resistance at the 7/8 Murray line located at 35.546. This level could act as a barrier and could prevent the continuation of the upward movement. On a fundamental level, this week's data has shown that the US economy is growing solidly, inflation is still a problem, and the labor market is recovering. This has allowed the Dow Jones to remain solid and continue with its bullish streak. However, it could be reaching a key level of technical reversal. The Dow is a few points close to touching the 7/8 Murray line. This zone represents a reversal and a change in the trend. Therefore, if it fails to break through 35.546, a turnaround could happen and the Dow Jones will fall to support at 35.156 (6/8). The technical reading of the eagle indicator shows that the Dow Jones is in the overbought zone. Therefore, our perspective is to sell below the 7/8 Murray with the targets at the 38 SMA and the 6/8 Murray support located at 35,150. Support and Resistance Levels for August 13 - 16, 2021 Resistance (3) 35,673 Resistance (2) 35,554 Resistance (1) 35,478 ---------------------------- Support (1) 35,408 Support (2) 35,307 Support (3) 35,187 The material has been provided by InstaForex Company - www.instaforex.com |
| Ethereum remains inside bullish channel. Posted: 13 Aug 2021 07:31 AM PDT Ethereum like Bitcoin are close to their recent highs. Ethereum on the contrary to Bitcoin, has not broken out of its bullish channel. Trend remains bullish since the reversal from $1,700 area.
Blue line- bearish divergence Despite making higher highs and higher lows, the RSI is not following and is instead providing us with bearish divergence signals. This bearish divergence signal justifies at least a short-term reversal towards $2,400-$2,500. Traders need to be cautious specially if price breaks out of the bullish channel. The material has been provided by InstaForex Company - www.instaforex.com |
| Strong bounce in EURUSD tests bearish trend. Posted: 13 Aug 2021 07:28 AM PDT EURUSD is bouncing above the broken support of 1.1750 towards 1.18. In our last analysis we warned traders that a bounce could come since the bullish RSI divergence signals were already warning us.
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| Trading Signal for USD/CAD for August 13 - 16, 2021: Sell Below 1.2500 Posted: 13 Aug 2021 06:50 AM PDT
The 4-hour chart shows that the USD/CAD pair is trading within an uptrend channel. We can also observe the formation of a symmetrical triangle technical pattern. The Canadian dollar has been consolidating within this triangle for several days. Despite the weakness of the US dollar in recent hours, the pair remains strong against the US dollar. The 200 EMA located at 1.2515 is the immediate support for the USD/CAD pair. A sharp break below this level and in addition to this a break below the symmetrical triangle pattern will be a sign of a trend change and it could drop to the zone of 1.2451 (6/8). The psychological level of 1.2500 gives some strength to USD/CAD. The market does not want to lose this level. The consolidation that takes around this area could end soon and the market will be able to define its next move because the indicator of eagle is showing overbought sign. On the other hand, the US dollar index, USDX, is showing a sign of weakness. It has fallen below the 93.00 level and now it is below the 21 SMA on the 4-hour charts. It is a bearish signal for the US dollar and could fall for a few more days. This data could give some strength to the USD/CAD pair that could fall below the 1.2500 level. As long as the pair is above the 200 EMA, the outlook will remain bullish, and the pair will continue trading within the bullish channel. On the contrary, a break and consolidation below the 200 EMA in the medium term could lead the price to the zone of 1.24 and 1.2355. Support and Resistance Levels for August 13 - 16, 2021 Resistance (3) 1.2604 Resistance (2) 1.2566 Resistance (1) 1.2549 ---------------------------- Support (1) 1.2495 Support (2) 1.2459 Support (3) 1.2399 *********************************************************** Trading tip for USD/CAD for August 13 - 16, 2021 Buy above 1.2531, with take profit at 1.2573 (7/8), stop loss below 1.2500 Sell if the price breaks below 1.2500 (EMA 200), with take profit at 1.2451 (6/8), stop loss above 1.2538. The material has been provided by InstaForex Company - www.instaforex.com |
| Market update for August 13, 2021 Posted: 13 Aug 2021 06:20 AM PDT Watch for rotational play... The material has been provided by InstaForex Company - www.instaforex.com |
| EUR/USD: The dollar will surprise the Fed Posted: 13 Aug 2021 06:15 AM PDT The prevailing opinion on the market, at present, is that inflation and US GDP will slow down, and the Fed will be extremely slow to normalize monetary policy. Coupled with the hawkish speeches of Bundesbank President Jens Weidmann, who fears the acceleration of the German CPI to almost 5%, these circumstances force investors to close short positions in EUR/USD. As a result, the pair left the area of 4-month lows. Is the trend ready to turn around again this year? Indeed, Reuters experts lowered their forecasts for US economic growth in 2021 from 6.6% to 6.2%. Most of them expect that the Fed will begin to taper QE only in the first quarter of 2022 and will do it extremely slowly at $10 billion a month. Mathematics allows us to understand that the $120 billion program will be completed only by the end of next year. The slowdown in July core inflation from 0.9% to 0.3% MoM confirms the idea that the normalization of monetary policy is moving at a snail's pace. Not everyone agrees with this. The Fed expects further progress in the US labor market. At the same time, there is no hint of helicopter money in Joe Biden's projects on new fiscal incentives for $4.1-4.5 trillion. In other words, there is no question of any weekly checks for $300. Americans will be forced to go to work, while wage increases could push inflation even higher. As, however, are the fiscal incentives themselves. Dynamics of inflation and wages in the USA
If the core PCE remains at least 4% by mid-2022 and the economy approaches full employment, the Fed will be forced to act aggressively. The rapid rise in the federal funds rate is the key to further strengthening of the US dollar. As for the eurozone, consumer prices there, of course, could rise to 3%, but it is difficult to imagine that core inflation would rise to at least 2%. Let me remind you that at present, the indicator is at the level of 0.7%. Moreover, judging by the economic expectations from the German ZEW institute, business activity and GDP of the currency bloc will start to slow down in the near future. This is probably due to the delta variant and the new restrictions. Dynamics of business activity and economic expectations in the eurozone
If we add to this the epidemiological and economic problems that China is currently experiencing, it becomes clear that bulls on EUR/USD cannot count on a rally similar to what happened in the second half of 2021. The locomotives of global GDP in the face of the United States, China, and the Eurozone are clearly losing steam. At the same time, the United States looks better, and the dollar can take advantage of American exclusivity - the faster growth of the economy in North America compared to the rest of the world. Technically, there is no reason to doubt the downward trend in EUR/USD. As long as the pair is holding below the fair value at 1.188, prompted by the market profile, the bears are in full control of the situation. In this case, the rebound from the moving averages and pivot levels near 1.1775, 1.1815, and 1.1845 should be used to form short positions. EUR/USD, Daily chart
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| GBP/USD Price Analysis, August 13 Posted: 13 Aug 2021 05:52 AM PDT
GBP/USD is under pressure trading below 1.3800 despite a broadly softer US dollar. Mixed UK economic data, Delta covid variant fears and Fed's tapering expectations weigh on the higher-yielding currency, the pound. The focus is on US Consumer Sentiment. Given the quote's downswing from 50-DMA, backed by the easing RSI line, not oversold, the GBP/USD prices are likely to remain under pressure. That said, the 200-DMA level of 1.3777 acts as the key immediate support to watch ahead of early July's low surrounding 1.3730. However, two horizontal regions connecting lows from late March and early February around 1.3670-65 and 1.3570 respectively will be tough nuts to crack for the pair sellers after 1.3730. The material has been provided by InstaForex Company - www.instaforex.com |
| EUR/USD Hot Forecast, August 13 Posted: 13 Aug 2021 05:50 AM PDT
EUR/USD is hovering below 1.1750 amid a cautious market mood. Delta covid variant spread and China's curbs remain a concern. The dollar retreats with the Treasury yields ahead of US Prelim Consumer Sentiment data. From current levels, any meaningful slide might continue to find decent support near the 1.1700 mark. A convincing breakout below will reaffirm the bearish outlook and prompt some aggressive technical selling. The pair might then accelerate the fall towards intermediate support near the 1.1665-60 region before eventually dropping to November 2020 lows around the 1.1600 round figure. On the flip side, bulls might wait for a move beyond the overnight swing high around the 1.1755 region, before placing fresh bets. Any subsequent positive move might still be seen as a selling opportunity and remain capped near the 1.1800 mark. This is followed by resistance near the 1.1830-35 region, which if cleared decisively might trigger a short-covering move. The next relevant hurdle is pegged near the 1.1880 supply zone ahead of the 1.1900 mark. A sustained strength beyond might negate the bearish bias and allow the pair to aim back to reclaim the key 1.2000 psychological mark. The material has been provided by InstaForex Company - www.instaforex.com |
| BTC analysis for August 13,.2021 - Key resistance on the test at $47.000 Posted: 13 Aug 2021 05:43 AM PDT Technical analysis:
BTC has been trading upside today but there is major resistance at the price of $47,500. Trading recommendation: Watch for the rejection of the resistance and breakout of the pivot low at $43,900 to confirm further downside. Downside breakout of the support at the price of $43,800 can confirm test of $42,900 and $37,500. Stochastic oscillator is showing bear divergence, which is another sign for potential downside rotation. The material has been provided by InstaForex Company - www.instaforex.com |
| Analysis of Gold for August 13,.2021 - Downside rotation in the play today Posted: 13 Aug 2021 05:36 AM PDT Technical analysis:
Gold has been trading upside today but on the very slow tempo, which is sign for the potential downside rotation. Trading recommendation: Main resistance at the price of $1,764 is on the test and there is no good volume on the upside move, which is sign for me that Gold can rotate lower. Watch for selling opportunities with the downside target at $1,745 Stochastic oscillator is showing overbought condition and potential for the downside rotation. The material has been provided by InstaForex Company - www.instaforex.com |
| EUR/USD analysis for August 13 2021 - Major resistance at 1.1770 is on the test Posted: 13 Aug 2021 05:29 AM PDT Technical analysis:
EUR/USD has been trading upside today but I see potential for the downside rotation. Trading recommendation: Main resistance at the price of 1,1770 is on the test and there is no good volume on the upside move, which is sign for me that EUR can rotate lower. Watch for selling opportunities with the downside targets at 1,1740 and 1,1710. Stochastic oscillator is showing overbought condition and potential for the downside rotation. The material has been provided by InstaForex Company - www.instaforex.com |
| Posted: 13 Aug 2021 05:10 AM PDT The flagship cryptocurrency attempted to break the $46.2K barrier. However, this attempt was unsuccessful. As a result, bitcoin fell to the local support zone of $44K. On August 12, the digital asset broke the $44.2K line. It led to a bullish impulse the next day. Today, the first cryptocurrency is trading at $46.2K. Yesterday, the coin gained 2% amid stable average daily trading volumes. The coin is likely to continue consolidating and try to break the resistance level. On the 4H chart, BTC is bullish. The RSI indicator risks going below the green zone. MADC and Stochastic indicate a strong bullish trend.
On the H1 chart, there are bearish signs. Stochastic points to the failed attempt of bulls to push the price up. At the same time, RSI indicates the overbought status of BTC. Meanwhile, MACD sends bullish signals. The balance of long and short positions has been below zero for the past two days, reflecting bearish sentiment.
There are two possible scenarios that can play out on August 13. In case the price fails to retest the $46,2K mark, the quote is likely to plunge below the local support zone. Long positions should be considered in the $43-44K range. After that, BTC/USDT may break the $40K line. If so, the price is expected to move to the local support zone with the lower border at $38.6K. By breaking the barrier and going further down, the quote may well rebound to $37.2K. A breakout of this level will cancel the bullish trend as of July 22. Alternatively, BTC is expected to consolidate near $46.2K and rise to $48K. After a small correction, the cryptocurrency may approach the $50 barrier. The resistance zone is seen in the $50-54K range. If BTC fails to form a key support zone at $50K, a correction to $48K may occur. However, if the coin breaks the $54 mark, the price is likely to head to $60K. If so, mass profit-taking may begin. Therefore, it is important to monitor MVRV, while BTC is bullish.
In the upcoming days, bitcoin is expected to continue to consolidate, attempting to approach the $48K resistance level. The price is likely to break the barrier after a small correction. The material has been provided by InstaForex Company - www.instaforex.com |
| Posted: 13 Aug 2021 04:15 AM PDT AUD / CAD has moved approximately 8,000 pips since February. Now, it is approaching 0.91400, which is the monthly low. Grid trading could be used to provoke the pair to rebound and move the same as presented below.
Put buy orders every 500 pips, starting from 0.91400 downwards. The volume must be no more than 0.01 standard lot for each $ 1000 deposit. Doing this could lead to a movement of as much as 5,000 pips. Then, take profit as soon as the pair reaches the mirror level - 0.91400 (+ 1p of the first order). Good luck! The material has been provided by InstaForex Company - www.instaforex.com |
| Fund managers' position in the face of inflation Posted: 13 Aug 2021 04:13 AM PDT
Based on expectations that US inflation will be transitory and that the Federal Reserve will clearly communicate its plans to reduce asset purchases, large global fund managers say that they are still investing in risky assets. Fund managers interviewed at the Reuters Global Markets Forum agreed that the Fed may attach more importance to employment data than inflation, but held different views on when and how the Fed will announce a reduction. Chief Investment Officer (CIO) Mark Haefele said that UBS Global Wealth Management was preparing for some inflation. Haefele is betting on a reflationary deal - deals that outperform during periods of rapid economic growth. His investment preferences include energy and financial stocks, as well as Japanese stocks. Rahul Chadha, global IT director at Mirae Asset Global Investments, believes that in the medium term, deflation is likely to be a more serious problem for the Fed. US inflation data, published on Wednesday, showed that it is possible. inflation in the US has already peaked. Accordingly, this supports the Fed's assertion that the price increase will be temporary. Rahul Chadha believes that there may be some sell-off of stocks with a cyclical orientation, as bond yields will rise in the near future, but reflationary transactions will regain their attractiveness in the medium term, as the Fed restricts yields. AIA Group CIO Mark Konin suggests that the Fed will announce a reduction by November or December of this year, based on Chairman Jerome Powell's remarks about the strength of the labor market. According to Konin, a sharp reduction in the US budget deficit will reduce the volume of Treasury securities issued, which may lead to market volatility if the Fed continues to buy bonds at the same pace. According to Jim Leaviss, CIO of Public Fixed Income at M&G Investments, the Fed should announce its reduction plan earlier at its September meeting, and will begin to reduce asset purchases by November of this year. These interviews were conducted in the chat room of the Reuters Global Markets forum. The material has been provided by InstaForex Company - www.instaforex.com |
| Posted: 13 Aug 2021 04:05 AM PDT BITCOIN
The rise to the area of the weekly medium-term trend (46,960) took place. Bitcoin indicated a slowdown in the zone of attraction and influence of the level encountered the day before and even showed some corrective decline. At the moment, the bulls have almost restored the positions they have achieved. This behavior increases not only the desire to retest the level, but also increases the chances of overcoming it. We are closing the week today, and the result is important. The short upper shadow on the weekly candle is desirable for the bulls. The breakdown of the weekly medium-term trend (46,960) will open the way to the next upward targets at 5,1163 (weekly Fibo Kijun) - 49,230 - 51,161 (daily target for the breakdown of the cloud). The nearest consolidation of supports can now be noted at 42,758 - 41,165 (monthly levels + weekly Fibo Kijun + daily Tenkan).
On the lower timeframes, we can say that the bulls are currently in control of the situation since they managed to restore their positions and consolidate above the key levels - 44,770 (the central pivot point) and 45,142 (the weekly long-term trend). The targets for the continuation of the upward trend today are at 47,390 (R2) and 48,475 (R3). In case of loss of key supports (44,770 - 45,142), attention within the day will return to the supports of the classic pivot points, which are now located at 43,236 - 42,151 - 40,616. *** In the technical analysis of the situation, the following are used: higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend) The material has been provided by InstaForex Company - www.instaforex.com |
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